Custom Truck One Source (NYSE:CTOS) Sees Strong Trading Volume – Still a Buy?

Custom Truck One Source, Inc. (NYSE:CTOS) saw unusually-strong trading volume on Wednesday . Approximately 544,189 shares traded hands during mid-day trading, a decline of 18% from the previous session’s volume of 662,042 shares.The stock last traded at $5.14 and had previously closed at $5.02.

Wall Street Analysts Forecast Growth

Separately, Oppenheimer lowered their price target on shares of Custom Truck One Source from $6.00 to $5.00 and set an “outperform” rating for the company in a report on Tuesday, November 5th.

Custom Truck One Source Stock Up 2.5 %

The company has a current ratio of 1.28, a quick ratio of 0.19 and a debt-to-equity ratio of 1.87. The firm has a 50-day moving average of $5.11 and a 200 day moving average of $4.42. The stock has a market capitalization of $1.20 billion, a price-to-earnings ratio of -32.16 and a beta of 0.79.

Custom Truck One Source (NYSE:CTOS) last announced its earnings results on Wednesday, October 30th. The company reported ($0.07) earnings per share for the quarter, missing the consensus estimate of ($0.03) by ($0.04). Custom Truck One Source had a negative net margin of 2.22% and a negative return on equity of 4.57%. The firm had revenue of $447.22 million during the quarter, compared to analysts’ expectations of $448.46 million. During the same quarter last year, the company posted $0.04 earnings per share. Custom Truck One Source’s revenue for the quarter was up 3.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Custom Truck One Source, Inc. will post -0.21 earnings per share for the current year.

Institutional Investors Weigh In On Custom Truck One Source

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Victory Capital Management Inc. acquired a new stake in Custom Truck One Source in the second quarter valued at $47,000. Intech Investment Management LLC bought a new stake in shares of Custom Truck One Source in the 3rd quarter worth about $56,000. SG Americas Securities LLC acquired a new stake in shares of Custom Truck One Source in the 3rd quarter valued at about $64,000. FMR LLC lifted its position in shares of Custom Truck One Source by 1,234.8% during the third quarter. FMR LLC now owns 28,846 shares of the company’s stock worth $100,000 after purchasing an additional 26,685 shares during the last quarter. Finally, D.A. Davidson & CO. grew its stake in Custom Truck One Source by 20.5% in the third quarter. D.A. Davidson & CO. now owns 29,240 shares of the company’s stock worth $101,000 after purchasing an additional 4,975 shares in the last quarter. 90.07% of the stock is currently owned by hedge funds and other institutional investors.

Custom Truck One Source Company Profile

Custom Truck One Source, Inc provides specialty equipment rental and sale services to the electric utility transmission and distribution, telecommunications, rail, forestry, waste management, and other infrastructure-related industries in the United States and Canada. The company operates through three segments: Equipment Rental Solutions (ERS), Truck and Equipment Sales (TES), and Aftermarket Parts and Services (APS).